Notable Mover: Concho Resources Inc (NYSE:CXO) Institutional Investors Sentiment Increased in 2016 Q2

November 30, 2016 - By Marguerite Chambers   ·   0 Comments

Notable Mover: Concho Resources Inc (NYSE:CXO) Institutional Investors Sentiment  Increased in  2016 Q2

Sentiment for Concho Resources Inc (NYSE:CXO)

Concho Resources Inc (NYSE:CXO) institutional sentiment increased to 1.46 in 2016 Q2. Its up 0.41, from 1.05 in 2016Q1. The ratio increased, as 197 investment managers increased and started new equity positions, while 187 sold and decreased stock positions in Concho Resources Inc. The investment managers in our partner’s database now possess: 126.97 million shares, down from 131.06 million shares in 2016Q1. Also, the number of investment managers holding Concho Resources Inc in their top 10 equity positions decreased from 6 to 4 for a decrease of 2. Sold All: 44 Reduced: 143 Increased: 144 New Position: 53.

Concho Resources Inc. is an independent oil and natural gas firm engaged in the acquisition, development and exploration of oil and natural gas properties. The company has a market cap of $17.94 billion. The Company’s activities are focused in the Permian Basin of Southeast New Mexico and West Texas, an onshore oil and natural gas basin in the United States. It currently has negative earnings. The Company’s three core operating areas include New Mexico Shelf, where it targets the Yeso formation with horizontal drilling; Delaware Basin, where it uses horizontal drilling and technology to target the Bone Spring formation and the Wolfcamp shale formation, and Midland Basin, where it targets the Wolfcamp and Spraberry formations with horizontal drilling.

The stock decreased 1.68% or $2.17 during the last trading session, hitting $127.33. Concho Resources Inc (NYSE:CXO) has risen 4.79% since April 27, 2016 and is uptrending. It has underperformed by 0.44% the S&P500.

Analysts await Concho Resources Inc (NYSE:CXO) to report earnings on February, 22. They expect $-0.06 earnings per share, up 14.29% or $0.01 from last year’s $-0.07 per share. After $0.32 actual earnings per share reported by Concho Resources Inc for the previous quarter, Wall Street now forecasts -118.75% negative EPS growth.

According to Zacks Investment Research, “Concho Resources Inc. is an independent oil and natural gas company engaged in the acquisition, development, exploitation and exploration of oil and natural gas properties. The Company’s conventional operations are primarily focused in the Permian Basin of Southeast New Mexico and West Texas. In addition, the Company is involved in a number of unconventional emerging resource plays.”

Encompass Capital Advisors Llc holds 5.04% of its portfolio in Concho Resources Inc for 142,496 shares. Telemark Asset Management Llc owns 180,000 shares or 4.94% of their US portfolio. Moreover, Geosphere Capital Management has 4.42% invested in the company for 37,500 shares. The California-based Cambrian Capital Limited Partnership has invested 2.58% in the stock. Grt Capital Partners L.L.C., a Massachusetts-based fund reported 82,644 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 2 insider sales for $2.19 million net activity.

Concho Resources Inc (NYSE:CXO) Ratings Coverage

Ratings analysis reveals 68% of Concho Resources Inc.’s analysts are positive. Out of 19 Wall Street analysts rating Concho Resources Inc., 13 give it “Buy”, 0 “Sell” rating, while 6 recommend “Hold”. The lowest target is $100 while the high is $173. The stock’s average target of $134.96 is 5.99% above today’s ($127.33) share price. CXO was included in 50 notes of analysts from July 21, 2015. Stifel Nicolaus maintained Concho Resources Inc (NYSE:CXO) rating on Monday, September 12. Stifel Nicolaus has “Buy” rating and $160 price target. Credit Suisse upgraded Concho Resources Inc (NYSE:CXO) on Wednesday, July 22 to “Outperform” rating. Citigroup maintained Concho Resources Inc (NYSE:CXO) on Thursday, April 7 with “Buy” rating. Suntrust Robinson downgraded Concho Resources Inc (NYSE:CXO) on Tuesday, October 6 to “Neutral” rating. As per Monday, April 18, the company rating was downgraded by Cowen & Co. The rating was downgraded by Vetr on Monday, August 31 to “Strong-Buy”. RBC Capital Markets maintained Concho Resources Inc (NYSE:CXO) rating on Thursday, October 8. RBC Capital Markets has “Outperform” rating and $140 price target. As per Monday, August 15, the company rating was maintained by JP Morgan. Citigroup maintained Concho Resources Inc (NYSE:CXO) on Friday, August 26 with “Buy” rating. JP Morgan initiated the shares of CXO in a report on Wednesday, December 9 with “Overweight” rating.

CXO Company Profile

Concho Resources Inc., incorporated on February 22, 2006, is an independent oil and natural gas firm engaged in the acquisition, development and exploration of oil and natural gas properties. The Company’s activities are focused in the Permian Basin of Southeast New Mexico and West Texas, an onshore oil and natural gas basin in the United States. The Company’s three core operating areas include New Mexico Shelf, where the Company primarily targets the Yeso formation with horizontal drilling; Delaware Basin, where it uses horizontal drilling and technology to target the Bone Spring formation (including the Avalon shale and the Bone Spring sands) and the Wolfcamp shale formation, and Midland Basin, where it targets the Wolfcamp and Spraberry formations with horizontal drilling.

Another recent and important Concho Resources Inc (NYSE:CXO) news was published by Businesswire.com which published an article titled: “Concho Resources Inc. Announces Acquisition of Northern Delaware Basin Assets” on November 21, 2016.

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By Marguerite Chambers


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